Brussels, 7 November 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Mahindra Susten Private Limited (‘MSPL’) of India by the Ontario Teachers’ Pension Plan (‘OTPP’) of Canada and Mahindra Holdings Limited (‘Mahindra’) of India. MSPL owns, operates and develops solar power generation projects and assets primarily in India. OTPP administers the pension benefits and the investment of pension plan assets of teachers in the province of Ontario, in Canada. Mahindra is active in various sectors, including infrastructure and power generation. The Commission concluded that the proposed acquisition would raise no competition concerns, given that MSPL has no actual or foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10950.
Source – EU Commission